Eskom, Exxaro row over BEE compliance

By BO Staff Writer The coal mining company, Exxaro Resources, has announced that it approved a transaction which would result in its majority black ownership stake declining from 50% to 30%. Exxaro is Eskom’s largest coal supplier and has 50.19% black ownership under the company, Main Street 333 Proprietary Limited. The 30% ownership level is …

Big questions around the Guptas resigning from Oakbay Resources and Energy

By Pinky Khoabane There’s perhaps no clearer example of capitalists’ use of economic power to muzzle opponents than the decisions by financial institutions and an auditing firm to cut ties with investment company, Oakbay Resources and Energy which, until last friday was owned by the Gupta family. In the past week, ABSA, FNB and KPMG …